The post ARK Invest increases BitMine stake despite offloading $30 million in Tesla shares appeared on BitcoinEthereumNews.com. Cathie Wood’s ARK Invest has sold approximately $30 million worth of Tesla Inc. shares and invested in BitMine Immersion Technologies. The firm sold 71,638 shares of Tesla across its flagship exchange-traded funds, according to ARK’s daily trading disclosures. This shift in interest occurred despite ARK having maintained Tesla as its primary investment since 2018. According to a daily trading note, ARK also acquired 48,454 shares in the Ether treasury firm BitMine, which is owned by Tom Lee, valued at approximately $2 million. Notably, these shares were bought via three of its exchange-traded funds (ETFs). This includes the ARK Next Generation Internet ETF, the ARK Innovation ETF, and the ARK Fintech Innovation ETF. Cathie Wood has been accelerating its acquisition of crypto stocks even while markets are sinking. Among the most popular crypto companies, the veteran investor has stakes in Circle Internet Group, Coinbase Global, and Robinhood Markets. Wood’s ARK Invest shifts its interest towards BitMine from Tesla Since April of this year, Wood’s ARK Invest has begun purchasing more shares of BitMine, thereby increasing its stake in the company. At the time, the company expected BitMine to shift towards the Ethereum treasury strategy officially. However, the firm began gathering ETH as a treasury asset in late June 2025, and the initiative officially launched on June 30, 2025. Following ARK’s decision to invest in the company, data from Google Finance revealed that BitMine shares soared by 7.65%, reaching an all-time high of $40.23 in after-hours trading. Additionally, the stock has increased an impressive 415% since the beginning of the year. In the meantime, ARK sold approximately 71,638 Tesla shares across its funds, a position valued at roughly $30 million based on Tesla’s closing price of $429.52. A handful of analysts also expressed views about the developments. After conducting some research, they…
